Verso Co. (NYSE:VRS) Expected to Post Earnings of $0.69 Per Share

Brokerages forecast that Verso Co. (NYSE:VRS) will post $0.69 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Verso’s earnings, with the highest EPS estimate coming in at $0.90 and the lowest estimate coming in at $0.47. Verso reported earnings of ($0.15) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 560%. The business is expected to report its next quarterly earnings report on Monday, November 8th.

On average, analysts expect that Verso will report full year earnings of ($1.39) per share for the current fiscal year. For the next year, analysts anticipate that the firm will post earnings of ($0.01) per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Verso.

Verso (NYSE:VRS) last posted its quarterly earnings data on Friday, August 6th. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.49. Verso had a negative return on equity of 8.21% and a negative net margin of 15.84%. The firm had revenue of $329.00 million during the quarter, compared to analysts’ expectations of $287.23 million.

Several brokerages have commented on VRS. TheStreet upgraded shares of Verso from a “d+” rating to a “c” rating in a report on Thursday, August 26th. B. Riley cut shares of Verso from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $18.00 to $20.00 in a report on Monday, August 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Verso from a “sell” rating to a “hold” rating in a research report on Saturday, July 10th.

A number of hedge funds have recently modified their holdings of the business. FORA Capital LLC purchased a new position in Verso during the second quarter valued at $27,000. Royal Bank of Canada raised its position in shares of Verso by 41.3% during the 1st quarter. Royal Bank of Canada now owns 2,568 shares of the basic materials company’s stock valued at $37,000 after buying an additional 750 shares in the last quarter. UBS Group AG increased its position in Verso by 26.7% during the first quarter. UBS Group AG now owns 10,179 shares of the basic materials company’s stock valued at $149,000 after acquiring an additional 2,146 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in shares of Verso by 109,825.0% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 8,794 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 8,786 shares during the last quarter. Finally, Caxton Associates LP purchased a new position in shares of Verso during the 1st quarter worth about $186,000. Institutional investors and hedge funds own 63.53% of the company’s stock.

Shares of NYSE VRS traded down $0.10 during mid-day trading on Monday, hitting $19.37. The stock had a trading volume of 163,970 shares, compared to its average volume of 233,154. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.39 and a current ratio of 2.31. The firm has a market cap of $632.43 million, a P/E ratio of -3.32 and a beta of 1.99. Verso has a 1 year low of $7.36 and a 1 year high of $20.34. The business has a 50 day moving average price of $19.26 and a two-hundred day moving average price of $17.25.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 28th. Shareholders of record on Friday, September 17th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, September 16th. Verso’s payout ratio is -10.15%.

About Verso

Verso Corp. engages in the production and supply of coated paper and products. The firm operates through the following segments: Paper and Pulp business. It offers paper products ranging from web, coated, digital, specialty and book and uncoated. The company was founded on August 1, 2006 and is headquartered in Miamisburg, OH.

Recommended Story: Dead Cat Bounce

Get a free copy of the Zacks research report on Verso (VRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Verso Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verso and related companies with MarketBeat.com's FREE daily email newsletter.